In this digital age, internet banking, phone banking, and self-service banking are the norm. Although these amenities are convenient and offer real-time service, they cannot provide the customer service and personal help that bank branches offer. This is especially true for high-value customers who prefer the help of a real person over an ATM for their more complex transactions. Moreover, branch banks are paramount to the development of client relationships and new sales.
To ensure your bank branch is as effective as possible you will need to reduce your operational costs of money handling in order to focus time and effort on the backbone of your bank—the customers. With more time for marketing efforts and building client relationships, your bank will be able to attract new clients and keep your existing customers content.
Bank employees spend most of their time on lower value responsibilities, such as transactions, administrative tasks, and back office processes, while the customers suffer from lack of attention. By using a myriad of solutions tailored to your bank branch, you will be able to save time, increase profits, and improve customer service and satisfaction. Consider the following eight cash solutions that can help you create a more efficient branch in 2014.
1. Currency counters
Coin and bill counters can save you valuable time in your daily cash counter operations. Currency counters are accurate so you don’t have to worry about human errors. Many models are equipped with counterfeit detection technology as well.
2. Cheque scanners
Cheque scanners reduce the amount of time spent photocopying, filing, and storing individual cheques. Bank branches process hundreds of cheques per day; cheque scanners allow you to scan more than 100 cheques per minute.
3. Self-service coin recyclers
Adding self-service coin recyclers to your bank branch enables you to reduce the employee involvement in coin handling transactions, while increasing profits with service fee income.
4. Currency sorters
Currency sorters categorize and filter bills while creating convenient batches of notes based on denomination. You will be able to easily load ATMs and bundle bills after the machine has finished sorting. The machine also detects counterfeit notes, unfit bills, folded corners, taped notes, and torn notes. You can even sort your bills by direction.
5. Currency strappers
Once your money has been sorted, you can easily and quickly band it together with a currency strapper in just seconds. Strappers include an efficient heat sealing process to create compact and neat bundles while also eliminating the need to manually apply straps to denominations.
6. Cheque encoders and endorsers
You will reduce cheque processing costs and increase efficiency with cheque endorsers and encoders. By encoding items at the branch level, you will improve customer service.
7. Envelope openers and joggers
Automated envelope openers easily extract mail while protecting the valuable contents. Some models can operate at a speed of 40,000 envelopes per hour. Manually opening mail has never seemed so time consuming and unnecessary. Joggers align mail, documents, and cheques of various sizes to prevent jams.
8. Currency recyclers
Using currency recyclers with easy cash-in/cash-out automations at the teller counter will greatly improve customer service and increase profitability by reducing the amount of times your teller has to replenish bills during operating hours.
Especially in this age when it is so easy to switch financial institutions at the drop of a hat, bank branches need to satisfy their customers with high-quality service in order to keep them as loyal, long-term clients. By simplifying the back office and transaction processes at your branch, you will be able to deepen customer relationships and increase profitability.